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Decline in premiums: These accident insurers are on the brink!
On July 1, 2025, the 50 largest accident insurers showed declines in premium income. Insight into market trends and key figures.
Decline in premiums: These accident insurers are on the brink!
On July 1, 2025, a significant phenomenon was identified in the area of private accident insurance: more than one in four of the 50 largest providers recorded declining premium income in the last six years. This development is alarming and shows significant declines in a market that had a total premium volume of almost 6.71 billion euros from 2018 to 2023 “Industry Monitor 2024: Accident Insurance” shows.
In particular, Nürnberger Allgemeine Versicherungs-AG, Helvetia and Axa suffered the greatest declines. According to the report, these companies lost significant revenue: Nuremberg fell to under 84 million euros, while Helvetia and Axa each shrank by a good ninth, to 23.4 million euros and 250.4 million euros. Ergo Versicherung AG, another major player, reported a decline in sales of almost a tenth to 32.3 million euros.
Sales declines in detail
WGV-Versicherung AG and Dialog Versicherung AG particularly stood out in the analysis. While Dialog Versicherung AG's income fell by over a fifth to 39 million euros from 2019 to 2023, WGV-Versicherung AG was able to increase its income by over a fifth to 16.5 million euros in 2023 and improve its sales ranking from 50th to 48th place.
The Insurance Journal Report shows that a total of 13 of the providers with the highest sales in the accident insurance market had to record declines in premiums. Corporate data from Allianz (under 1,183 million euros), HDI (63 million euros), Mannheimer (15 million euros), Cosmos (23 million euros) and Rheinland (under 18 million euros) demonstrate these declining trends.
Market development and outlook
The reasons for the declining premium income are varied and are reflected in a continuous trend that can be observed at many providers over the years. While Ergo Direkt recorded growth in the first two years, Axa experienced constant annual losses of around two percent. Nuremberg, on the other hand, showed increasing contraction dynamics, while Helvetia registered continuous losses of between two and three percent.
The annual study published by VERSE. Leipzig GmbH is created, offers numerous key figures and is available for 892.50 euros including VAT. Analysis of the market will continue to be of great interest in order to follow future developments in accident insurance more closely.